Forex Market Updates & Commentary
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- GBPJPY breaks support at 119.56
- Euro stocks trimming gains
- EURUSD moves toward channel trend line support
- Merkel says common interest rates on Eurobonds is the wrong signal
- Italy Monti says deficit targets may have to be adjusted to economic cycles
- Merkel stand firmly against a Eurobond
- EURUSD up on the day but trading at midpoint
- Sarkozy says France and Germany are determined to help Italy
- Overview of overnight events/releases
- JP Morgan sees EURUSD at 1.3000 by March 2012 vs 1.3800 previous estimate
- China sovereign wealth fund CIC may aid Europe through investments.
- Fitch cut Portugals rating ffrom BBB- to BB+.
- RBA’s Stevens
- UK GDP (Q3) 0.5% as expected.
- IFO’s Abberger
